Canadians hope cottage purchases will lead to a better life - MoneySense

Canadians hope cottage purchases will lead to a better life

Money really may buy happiness.

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About 47% of Canadians planning to buy recreational properties said they were doing so to improve their own personal lifestyle, says a recent survey conducted by Angus Reid.

Of the respondents, 43% said they’d buy a vacation property because it’s a good investment. Last year, 64% of respondents said they’d make the purchase because it’s a good investment. About 25% said they plan to rent out their recreational property for part of the year (up from 13% in 2009).

About 15% plan to purchase a vacation residence with friends or family.

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